Amount

Amount, a spinoff from digital consumer lending platform Avant, offers a lending-as-a-service (LaaS), retail banking, and point-of-sale (POS) financing/buy-now-pay-later (BNPL) platform to help financial institutions digitize their operations. Amount’s platform is complemented by fraud prevention, verification, decision engines, and account management solutions. 

The company charges its users an up-front implementation fee as well as a percentage of any loans that are processed using Amount’s infrastructure. 

In February 2022, Amount acquired Linear Financial Technologies (Linear), an SMB loan and account origination infrastructure platform for financial institutions, for USD 175 million. The acquisition also increased Amount’s workforce to nearly 600 employees; however, in June 2022, Amount reportedly laid off nearly 20% of their workforce, citing macroeconomic challenges. 

Key customers and partnerships

Amount’s customers include leading financial institutions such as HSBC, Regions Bank, and TD Bank, among others, which collectively serviced more than 50 million customers and managed nearly USD 2 trillion in assets in the US. 

In April 2021, Barclays partnered with Amount to enable merchants to offer point-of-sale (POS) financing. Moreover, Amount also partnered with Marqeta in October 2021, to enable banks to offer BNPL solutions to end customers. The companies claimed that banks can launch BNPL offerings together with virtual cards, in months. 

In August 2024, the company partnered with Velera (formerly PSCU), a credit union to provide digital credit card origination solutions for its clients.